CoinMarketCap, a leading cryptocurrency statistics and price tracking service, has just released a slew of new features, in a bid to bring more clarity to a market where data is as important as oxygen is to humans.
CoinMarketCap Launches “Professional API”
As with any promising firm, new features are being released left and right, with updates only drawing the attention of prospective consumers. In CoinMarketCap’s (CMC) most recent “major quarterly update,” the team announced the introducing of a so-called “Professional API” after a month-long beta process that involved “hundreds of users.”
As the update notes, the API can be utilized by developers and cryptocurrency investment firms looking for a wide array of aggregated data points, namely product offerings, price, market capitalization, conversions and trading pair data. CMC collects data from hundreds of cryptocurrency exchanges from across the world every minute, automagically updating data on a 24/7/365 basis.
Speaking on the firm’s aspirations for this flagship feature, Brandon Chez, the Founder of the site, stated:
“As part of our mission to continue growing the cryptocurrency sector with our partners, our professional API will ensure that the CoinMarketCap data that users know and trust can be integrated into every application.”
This level of service will not come at zero cost, as the statistics provider has already implemented a pricing structure, that ranges from $79 to $699 a month for different levels of service. As you pay more, you get access to more data endpoints along with the so-called “call credits.”
The firm expects that as more cryptocurrency products and institutions enter the space, that there will be a larger need for essential data to allow firms and retail investors to make proper decisions when trading cryptocurrencies.
An Array Of New Features
With this update, CMC has also added derivative markets to their statistics, with the site now facilitating support for futures, options and OTC exchange data, along with promising to add alternative derivatives as the market continues to expand.
This update also shipped a new method of ranking exchanges, which will allow users to sort through exchanges in an easier manner, while also presenting exchange data in an easier to digest format. Key features that were added include exchange volume at different intervals and the option for sorting by exchange type (standard fees, no fees, transaction mining).
Last but not least, the service introduced new website segments that will move CMC away from a price-centric model. Notable new segments include a daily newsletter, events page, glossary of crypto terms, along with a revamp of their in-house blog section.
While this may not sound like anything too flashy for one of the most well-known sites in all of the industry, these new features will be sure to spark new levels of interest and adoption.